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Fly News Breaks for July 15, 2019
SEE
Jul 15, 2019 | 08:40 EDT
As previously reported, KeyBanc analyst Adam Josephson downgraded Sealed Air to Underweight from Sector Weight, with a $39 price target. The analyst cited his concerns about the company's weak volume trends, levered balance sheet, the recent termination of its CFO, and its large restructuring program. With the shares trading at a 2019 free cash flow yield on market cap below 4% and an EV/adjusted EBITDA multiple of about 11-times, the analyst does not think investors are being appropriately compensated for the risks.
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